Australand opens securitization account

Australand, an Australian property developer and subsidiary of Singapore's CapitaLand, launched and priced its first securitization at the end of last week, a A$104.1 million commercial mortgage backed CMBS issue led by ANZ Investment Bank.

The deal is backed by pre-sale contracts for units in the yet-to-be completed Quadrant Off Broadway development, located near Sydney's central business district. The Quadrant is made up of residential apartments 65% of the project, commercial units 15% and student accommodation 20%....